Intuitive Surgical (NASDAQ:ISRG), renowned for its robotic-assisted surgical technology, reported its fourth-quarter earnings, exceeding analyst expectations.

The company’s total revenue for the quarter was $1.93 billion, a 17% increase from the same period last year, surpassing the forecasted $1.89 billion. Its earnings per share (EPS) came in at $1.60, beating the estimated $1.48.

A notable contributor to this year-over-year growth was the Instruments and Accessories segment, which generated $1.14 billion in revenue. This represents a 22% increase from the prior year and matches the expected $1.14 billion.

Intuitive Surgical also showed robust operational performance with its worldwide procedure growth hitting 21%, exceeding the anticipated 19.2%. The company’s Da Vinci Surgical System saw its installed base expand to 8,606 units, a 14% annual increase, and slightly above the projection of 8,584 systems.

Adding to the positive sentiment around the stock, Intuitive Surgical announced that it had submitted a 510k application to the FDA for its new da Vinci 5 system, further boosting investor confidence.

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